Secure Your Agencyās Future Through Employee Ownership In this informative webinar, John Menke, President of Menke & Associates, Inc., and Kyle Coltman, CEO of the firm, explain how Employee Stock Ownership Plans (ESOPs) can provide insurance agency owners with a powerful tool for succession, liquidity, tax savings, and employee retention. Menke & Associates is the…
Unlocking Ownership, Value, and Growth in Professional Services In this educational webinar, John Menke and Chuck Bachman of Menke & Associates, Inc. explain how consulting firms can use Employee Stock Ownership Plans (ESOPs) to address liquidity, succession, and employee retentionāall while leveraging substantial tax advantages. https://www.youtube.com/watch?v=kwnVOXnH3jk See Video Transcript 0:00good morning welcome to the web…
Empowering Construction Firms Through ESOPs Building Ownership, Stability, and Growth Employee Stock Ownership Plans (ESOPs) have become one of the most effective tools for construction firms, contractors, and subcontractors looking to strengthen their companyās future. In this insightful webinar hosted by Menke & Associates, John Menke and Bruce Armstrongātwo of the nationās leading ESOP expertsāexplore…
Employee Stock Ownership Plans (“ESOPs”) are federally qualified employee benefit programs governed by U.S. law. Since our president and founder, John Menke, wrote some of the original ESOP legislation in 1974, more than 25 additional laws have been passed to promote and broaden the benefits of ESOPs. In general, ESOPs offer owners of companies tax…
Burlingame, CA, September 24, 2024 – The Menke Group, the leading single-source Employee Stock Ownership Plan (ESOP) provider in the United States, announced that AEC Electric, a commercial electrical contractor covering all of Arizona, has become 100 percent employee-owned with the help of The Menke Group. The ESOP plan extends ownership of the company to…
Burlingame, CA, August 28, 2024 – The Menke Group, the leading single-source Employee Stock Ownership Plan (ESOP) provider in the United States, announced that 2024 marks its fiftieth anniversary of advising companies on designing and managing ESOPs. In addition, the company announced that Trevor Gilmore, former CFO and COO of The Menke Group, was promoted…
Lunch & Learn: ESOP 101 We are pleased to invite you to an exclusive Lunch & Learn event, where youāll have the opportunity to explore the benefits of selling your business to an Employee Stock Ownership Plan (ESOP). This event, hosted by JPMorgan Chase and The Menke Group, is designed specifically for business owners who…
As we celebrate our 50th anniversary, take a tour of the history of The Menke Group and ESOPs. 1974 The Menke Group, founded by John D. Menke, is incorporated in June. Employee Retirement Income Security Act (ERISA), including ESOP provisions drafted by John D. Menke, is signed into law on September 2. 1975-1985 1975 John…
IRS qualified stock bonus plans and profit-sharing plans have existed in this country since they were first authorized by the Revenue Act of 1921. However, during the ensuing years very few stock bonus plans existed, and most of them were used by publicly traded companies as an employee incentive plan. Instead, most public-traded companies offered…
Turn employees into ownersāand owners into teachers In this webinar, Jack Stack, President & CEO of SRC Holdings and author of The Great Game of Business, shares a practical system for running an ESOP company: build an ownership culture, practice open-book management, and create a repeatable scorecard-driven operating rhythm that improves cash flow, productivity, and…
Employee Stock Ownership Plans (ESOPs) stand at the forefront of transforming how businesses view and engage their workforce. These plans not only offer a route to employee ownership but foster a culture of involvement, commitment, and shared success. The upcoming ‘Let’s Talk ESOPs’ event in Montana, slated for Wednesday, July 31, 2024, at Pacific Steel…
Trust and security are more important than ever, and when it comes to your companyās ESOP, this is especially true. Employees and stakeholders must know that their data is safe and that related reporting processes are managed rigorously. SOC 1 and SOC 2 reports, produced by an independent certified public accounting firm following a comprehensive…
ESOPs were first authorized by federal legislation in 1974. Since that date, there have been more than 25 separate pieces of legislation that have further defined what an ESOP is and what an ESOP is permitted to do. Despite this fact, there are more misconceptions about ESOPs than about any of the other similar financial…
Fountain Valley, CA, April 17, 2024 – The Menke Group, a leading full-service ESOP provider, announced that AV Construction, a renowned healthcare development firm based in Fountain Valley, has become 100 percent employee owned with the help of The Menke Group. The Menke Group will assist AV Construction to extend ownership of the company to…
CONTRIBUTION AND ALLOCATION LIMITATIONS FOR PLAN YEARS ENDING IN 2024 Date: April 2024 C CORPORATION CONTRIBUTION LIMITATIONS (Sec. 404 of the Code): Example: (The Sec. 404 limit is calculated for all employer plans in the aggregate.) Sec. 404 Gross Compensation 1 $345,000.00 Less Sec. 401(k) Salary Reduction 0.00 Less Sec. 125 Salary Reduction 0.00 Net…
On October 12, 2023, the Social Security Administration (SSA) announced the 2024 Social Security Wage base increase from $160,200 to $168,600. The IRS (Internal Revenue Service) announced the 2024 cost-of-living adjustments for various retirement plan limits on November 1, 2023. Below are selected adjustments applicable to employer-sponsored retirement plans effective January 1, 2024. Additional details…
San Mateo, CA, April 2, 2024 – The Menke Group, a leading full-service ESOP provider, announced that Matrix HG, a Concord-based innovator serving the San Francisco Bay Area with commercial HVAC systems, has become 100 percent employee owned with the help of The Menke Group. The Menke Group will assist Matrix HG to extend ownership…
In 2000, Jody Zepnick, founder of Zepnick Solutions, had an idea. He wanted to create a business that would not only serve a growing niche ā manufacturing automation ā but would also be a place that people want to work for. Fast forward 24 years, Zepnick has provided engineering solutions and equipment for automation to…
San Mateo, CA, March 12, 2024 – The Menke Group, a leading full-service ESOP provider, announced that Brown Construction Incorporated, one of the largest general contractors in the greater Sacramento area and ENR Top 400 general contractor, has become 100% employee-owned with the help of The Menke Group. The Menke Group enabled Brown Construction to…
Join us for a free, 90-minute web seminar on Wednesday, November 20th, 2024, where industry experts will guide you through the essential benefits of ESOPs. You'll learn how ESOPs can be structured to meet your specific business needs, ensuring the sustainability and success of your company in 2024 and beyond.
Itās not every day that the Wall Street Journal features one of your clients. The end of 2023 saw that spotlight shine on Menke client Hyperion Technology Group touting it as a success story in an article about Mississippi and the American South. Competitive salaries and benefits burnish Hyperionās reputation and standing, CEO Geoffrey Carter…
As more accountants retire from the profession, they are not being replaced by new practitioners. A recent Wall Street Journal article shone a spotlight on a disturbing trend: the number of college students graduating with a bachelorās degree in accounting dropped by almost eight percent from the previous year, according to a study by the…
A recent study commissioned by the Employee-Owned S Corporations of America (ESCA) has unveiled a compelling narrative ā workers who own their companies through Employee Stock Ownership Plans (ESOPs) enjoy significantly greater employment advantages compared to the broader American workforce. Employee-owned S corporations excel in employee retention, boasting a corporate culture that fosters worker satisfaction.…
Congress is continuing its support for employee ownership in general and ESOPs in particular with the introduction of bipartisan legislation designed to simplify the process of establishing Employee Stock Ownership Plans (ESOPs) for S-Corps. The Promotion and Expansion of Private Employee Ownership Act aims to address the barriers that have historically hindered S-Corp companies from…
When BDO USA’s 880 partners met recently in Florida, they voted nearly unanimously to establish an employee stock ownership plan (ESOP). The plan is scheduled to go into effect on August 31, 2023 and will give the firm’s 10,000 employees a direct stake in ownership. The firm’s executives will continue to lead the company and…
Employee ownership is a powerful force for financial well-being and Employee Stock Ownership Plans (ESOPs) benefit both business owners and employees. The US Federal government recognized these factors in the 2023 national budget by including support for provisions dedicated to spurring ESOPs and Congress has introduced bi-partisan measures to advance employee ownership. The drumbeat of…
A recent Chicago Sun Times article outlined how Menke client Clark-Devon Hardware, a well-established hardware store based in Chicago, has taken a significant step towards empowering its workforce and securing its future by implementing an Employee Stock Ownership Plan (ESOP). By transitioning to employee ownership, Clark-Devon Hardware aims to create a stronger sense of commitment…
Small businesses looking to transition to an employee-owned model through ESOPs can benefit greatly from two recent pieces of regulatory guidance from the Small Business Association (SBA) which bring positive changes to the financing landscape for ESOPs. These important pieces of guidance are Procedural Notice 5000-846607 and SOP 50 10, Version 7, both of which…
In recent years, there has been a growing emphasis on promoting employee ownership in the United States. This focus has been championed by Congressional leaders and various states who recognize the numerous benefits that employee ownership can bring to businesses and their workforce. Earlier in 2023, the passage of the WORK and SECURE 2.0 Acts…
Protecting High Value Assets Protecting High Value Assets: this phrase expresses the mission for Kennon Products and the litmus test for decisions on investing the companyās resources. Located in the foothills of the Big Horn Mountains in Sheridan, Wyoming, the companyās ability to innovate and excellence in engineering led to its focus on protecting high…